首席执行官的性别、董事会性别多样性的临界质量和 ESG 业绩:英国的证据

IF 16.4 1区 化学 Q1 CHEMISTRY, MULTIDISCIPLINARY
H. Al‐Shaer, Mahbub Zaman, Khaldoon Albitar
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引用次数: 0

摘要

目的 本研究探讨首席执行官领导力、性别同质性与企业环境、社会和治理(ESG)绩效之间的关系。我们还调查了董事会中是否必须有足够数量的女性董事,才能在领导岗位上形成显著的性别多元化力量。设计/方法/途径我们的研究基于 2011 年至 2019 年在伦敦证券交易所(FTSE-All-Share)上市的公司。首席执行官特征和其他董事会变量来自 BoardEx,ESG 数据和其他相关变量来自 Eikon 数据库。研究结果我们发现,女性董事的临界质量有助于提高 ESG 业绩,这表明董事会中女性董事的象征性代表限制了其有效性。我们的研究结果表明,女性首席执行官的有效性并不取决于是否存在足够数量的女性董事。当公司财务业绩不佳时,女性董事和女性首席执行官与环境、社会和公司治理活动相关的可能性较小。我们还发现,年轻的女性首席执行官对环境、社会和公司治理绩效有积极影响。此外,我们还发现任期较短的女性首席执行官更有可能提高环境、社会和公司治理绩效。总之,我们的研究结果表明,女性首席执行官和性别多元化董事会之间存在替代效应。它还补充了关于女性领导力和 ESG 表现的现有学术研究,对高级管理层和政策制定者具有重要意义。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
CEO gender, critical mass of board gender diversity and ESG performance: UK evidence
PurposeThis study investigates the relationship between CEO leadership, gender homophily and corporate environmental, social and governance (ESG) performance. We also investigate whether it is essential to have a critical mass of women directors on the board to create a significant power of gender diversity in leadership positions.Design/methodology/approachOur study is based on firms listed on the London Stock Exchange (FTSE-All-Share) from 2011 to 2019. CEO characteristics and other board variables were collected from BoardEx, and ESG data, and other related variables were collected from Eikon database.FindingsWe find a critical mass of female directors contributes to ESG performance suggesting that token representation of female directors on boards limits their effectiveness. We do not find support for the gender homophily perspective, our findings suggest that the effectiveness of female CEOs does not depend on the existence of a critical mass of female directors. Female directors and female CEOs are less likely to be associated with ESG activities when firms experience poor financial performance. We also find that younger female CEOs have a positive impact on ESG performance. Furthermore, we find female CEOs with shorter tenure are more likely to improve ESG performance. Overall, our findings suggest a substitutional effect between having female CEOs and gender diverse boards.Originality/valueThis study contributes to the debate on gender homophily in the boardroom and how that may affect ESG practices. It also complements existing academic research on female leadership and ESG performance and has important implications for senior management and policymakers.
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来源期刊
Accounts of Chemical Research
Accounts of Chemical Research 化学-化学综合
CiteScore
31.40
自引率
1.10%
发文量
312
审稿时长
2 months
期刊介绍: Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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